The account will be opened with a nil balance if the customer agrees to credit the account with £1000 or more each month either by a salary mandate or by Standing Order.
The minimum balance that must be maintained in this account to receive interest is £1. If the balance falls below £1 no interest will be paid.collapse
| Application Criteria | ||||
| Existing Customer Only | no | This account is not available to existing customers only. | ||
| Minimum Monthly Credit | £1,000 | A monthly mandate of £1,000 plus is required, if this mandate is not met, the credit interest on the account will be reduced. | ||
| Minimum Age | 18 years | The minimum age is 18 years. | ||
| Minimum Income | £0 | There is no minimum income required for this account. | ||
| Minimum Investment | £0 | The account will be opened with a nil balance if the customer agrees to credit the account with £1000 or more each month either by a salary mandate...expand | ||
| Student Bank Account | no | This is not a student bank account. | ||
| Graduate Bank Account | no | This is not a graduate bank account. | ||
| Facilities | ||||
| Internet Banking | yes | E-banking is a simple, convenient and secure way for the customer to manage their Abbey card based accounts on-line. The service is available to customers...expand | ||
| Branch Banking | yes | This account can be operated through a branch. | ||
| Telephone Banking | yes | An automated telephone banking service is available 24 hours a day 365 days a year and calls are charged at a local rate The services available via the...expand | ||
| Mobile Banking | no | Mobile banking is currently not available. | ||
| Package Current Account | no | no | ||
| Switching Service | yes | If the customer wishes to switch their bank account to Abbey then they need their Switcher Service. Abbey will contact the customer's old bank for a list...expand | ||
| Debit Card | yes | A VISA debit card is available. | ||
| Maximum ATM Withdrawal | £300 | The maximum ATM withdrawal is £300.00. | ||
| Cheque Book | yes | A cheque book is available. | ||
| Additional Information | none | No additional information. | ||
| Rates | ||||
| Headline Interest Rate | 6% | The headline interest rate is 6.00% AER. | ||
| Reward Payment | £0 | No reward payment payable. | ||
| Overdraft | ||||
| Overdraft Facility | yes | Overdraft facilities are available subject to status. | ||
| Interest Free Overdraft Limit | £0 | There is no interest free overdraft limit. | ||
| Overdraft Buffer Limit | £0 | There is no overdraft buffer. | ||
| Standard Overdraft Rate | 19.9% | The advance (authorised) overdraft rate is 19.9% EAR. | ||
| Monthly Overdraft Charge | £0 | There is no monthly authorised overdraft fee. | ||
| Automatic Overdraft Facility | £0 | An approved overdraft facility is not automatically set up when the account is opened. | ||
| Overdraft Arrangement Fee | no | An overdraft arrangement fee is not charged. | ||
| Unauthorised Overdraft Rate | 28.7% | The (unauthorised) instantoverdraft rate is 28.7% EAR. | ||
| Monthly Unauthorised Overdraft Charge | £25 | There is a monthly fee for unauthorised overdraft of £25 per statement period. | ||
| Fee & Charges | ||||
| Monthly Charge | £0 | No monthly servicing charge is made. | ||
| Free Banking | yes | Free banking is available. | ||
| Transaction Charge Europe | 2.75% | There is a 2.75% conversion fee for transactions abroad. | ||
| Transaction Charge Worldwide | 2.75% | There is a 2.75% conversion rate for transactions abroad. | ||
| Debit Card Charge Europe | 1.25% | A £1.25 overseas transaction fee applies for point of sale transactions (not cash withdrawals) abroad in a currency other than sterling. | ||
| Debit Card Charge Worldwide | 1.25% | A £1.25 overseas transaction fee applies for point of sale transactions (not cash withdrawals) abroad in a currency other than sterling. | ||
| ATM Withdrawal Charge Europe | 1.99% | A charge of 1.50% of the value of the withdrawal is made (minimum £1.99) for VISA/PLUS withdrawals abroad. | ||
| ATM Withdrawal Charge Worldwide | 1.99% | A charge of 1.50% of the value of the withdrawal is made (minimum £1.99) for VISA/PLUS withdrawals abroad. | ||
| Unauthorised Transaction Fee | £35 | The Instant Overdraft Request Fee is dependent on the size of the transaction which triggers the request for the service (not the size of the Instant (unauthorised)...expand | ||
| Incentives | ||||
| Cashback | £0 | This incentive is not offered with this account. | ||
| Account Promotions | yes | Instant transfers - Between Abbey Account and one of the savings accounts. Sweep Facility Payments for switching errors . | ||
| Credit Card | no | This incentive is not offered with this account. | ||
| Life Insurance | no | This incentive is not offered with this account. | ||
| Commission Free Forex | no | This incentive is not offered with this account. | ||
| Mobile Phone Insurance | no | This incentive is not offered with this account. | ||
| Entertainment Ticket Discounts | no | This incentive is not available with this account. | ||
